Issues

US Targets Iranian Petrochemicals, Petroleum in Fresh Sanctions

The United States on Thursday imposed sanctions on companies it accused of playing a critical role in the production, sale and shipment of Iranian petrochemicals and petroleum to buyers in Asia, as Washington increases pressure on Tehran.

The US Treasury Department in a statement said it imposed sanctions on six Iran-based petrochemical manufacturers or their subsidiaries and three firms in Malaysia and Singapore over the production, sale and shipment of hundreds of millions of dollars worth of Iranian petrochemicals and petroleum.

The latest US move against Iranian oil smuggling comes as efforts to revive Iran’s 2015 nuclear deal have stalled and ties between the Islamic Republic and the West are increasingly strained as Iranians keep up anti-government protests.

Read More: Algemeiner